Sold
Last Sold Price
78 beds72 baths36,696 sqft

4175 W Ridge Rd, Erie, PA 16506

Multi FamilyProperty Type
2.48 acresLot Size
1985Year Built
$112/sq ftPrice per sq ft
90 carsParking Spaces

Description

Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based...Rare opportunity to own a 45-unit townhouse complex in highly sought-after Millcreek Township & School District. This well-maintained property includes 33 townhouses, each with 2 bedrooms, full basements, & 1.5 baths in 27 units. Additionally, there are 12 apartments, offering a diverse mix of rental options. Recent improvements include new roofs & gutters (2017), all windows replaced, & ample parking. On-site laundry adds convenience. Current rents for townhouses range from $900-$1000, but based on a market analysis, significant rent growth potential exists—townhouses can easily rent for $1100-$1200, & apartments for $800. With each unit individually metered for gas, electric, and water (tenants pay utilities), the owner only covers sewer & garbage. This property offers incredible cash flow potential & can achieve a 9.62%+ CAP rate based on projected APOD. Prime location close to all amenities makes this a perfect investment! Located by LECOM adds extra premium rent possibilities!
Listing closed: 05/07/2025 12:00 AM • Source: Greater Erie Board of REALTORS, MLS#: 181424
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Recent comparable sales

Median sold price

$279,900

Avg days on market

33

Sale-to-list ratio

92.5%

Erie, PA

9 comparable properties found

1

$3,300,000

Sold 12/30/25

Unavailable
Bedrooms
Unavailable
Bathrooms
41,532
Square Feet
4.55
Acres
2

$226,050

Sold 11/01/24

3
Bedrooms
2
Bathrooms
1,800
Square Feet
0.36
Acres
3

$249,900

Sold 04/08/26

4
Bedrooms
2
Bathrooms
1,970
Square Feet
0.25
Acres
4

$305,000

Sold 09/05/25

6
Bedrooms
4
Bathrooms
2,728
Square Feet
0.22
Acres
5

$279,900

Sold 08/13/25

Unavailable
Bedrooms
2
Bathrooms
4,700
Square Feet
0.28
Acres
6

$265,000

Sold 11/03/25

2
Bedrooms
2
Bathrooms
1,100
Square Feet
0.11
Acres
7

$525,000

Sold 08/21/25

9
Bedrooms
7
Bathrooms
8,592
Square Feet
0.25
Acres
8

$2,800,000

Sold 09/30/25

Unavailable
Bedrooms
Unavailable
Bathrooms
4,608
Square Feet
3.46
Acres
a view of a house with a big yard
1/5
9

$75,000

Sold 10/28/25

Unavailable
Bedrooms
Unavailable
Bathrooms
37,461
Square Feet
0.86
Acres

Location

Listing Courtesy of Agresti Real Estate

Sold By Agresti Real Estate

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$26,554 per month

30 year fixed, 7.03% Interest

Principal and Interest

$21,888

Property Taxes

$4,666

HOA Dues

$0

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Property Information for 4175 West Ridge Road

Property Details

  • Taxes: $55,986 / year
  • MLS Type: Residential Income / Multi Family
  • County: Erie County
  • Architectural Style: Two Story
  • Zoning Description: See Remarks

Building Information

  • Stories: 2
  • Residences: 3
  • Year Built: 1985
  • Lot Size: 2.48 AC / 108,028 SF

Summary

Location and General Information
  • Directions: W. Ridge Rd. (Rt. 20) between Mc Kee and Colonial, across from Barber National Institute
  • Latitude: 42.077324
  • Longitude: -80.168781
  • MLS Area Major: 6 - Millcreek S of W26
  • Township: Millcreek Township
Taxes and HOA
  • Parcel Number: 33-055-247.0-002.00
  • Tax Annual Amount: $55,986.00
  • Tax Assessed Value: $2,000,000
  • Tax Year: 2025
School Information
  • Elementary School District: Millcreek
  • High School District: Millcreek
  • Middle or Junior School District: Millcreek
Parking
  • Parking Total: 90.0
Virtual Tour

Property

Lot Information
  • Lot Features: Cleared, Level
  • Lot Size Acres: 2.48
  • Lot Size Area: 2.48
  • Lot Size Dimensions: 0x0x0x0
  • Lot Size Units: Acres
  • Road Frontage Type: Private Road
  • Road Surface Type: Paved
Property and Assessments
  • Building Area Total: 36696.0
  • Living Area: 36696.0
  • Living Area Source: Assessor
  • Property Condition: Good Condition, Resale
  • Year Built: 1985
  • Year Built Details: Actual
Building Features
  • Construction Materials: Brick, Vinyl Siding
  • Levels: Two
Utilities
  • Sewer: Public Sewer
  • Water Source: Public

Interior and Exterior Features

Interior Features
  • Total Bathrooms: 72
  • Total Bedrooms: 78
  • Cooling: Central Air
  • Has Cooling: Yes
  • Heating: Forced Air, Gas
  • Has Heating: Yes
Exterior Features
  • Roof: Composition
  • Stories: 2

Multi Family

Multi Family Information
  • Number of Units In Community: 45
  • Total Number of Units: 3
Income & Expenses
  • Gross Income: $476,868.00
  • Insurance Expense: $13,306.00
  • Maintenance Expense: $23,188.00
  • Manager Expense: $23,188.00
  • Net Operating Income: $322,154.00
  • Other Expense: $11,760.00
  • Professional Management Expense: $23,188.00
  • Water Sewer Expense: $16,000.00

Unit Information

Unit 1
  • Actual Rent: $800.00
  • Actual Rent Range: 800
  • Total Bathrooms: 1
  • Total Bedrooms: 1
  • Description: Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied
Unit 2
  • Actual Rent: $1,150.00
  • Actual Rent Range: 1150
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Basement Tenant Use,Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied
Unit 3
  • Actual Rent: $1,150.00
  • Actual Rent Range: 1150
  • Total Bathrooms: 1
  • Total Bedrooms: 2
  • Description: Basement Tenant Use,Dishwasher,Laundry,Range/Oven,Refrigerator
  • Occupant Type: Occupied

Rental

Rent Information
  • Security Deposit: $50,000.00

Property History for 4175 West Ridge Road

DateEvent & SourcePriceAppreciation
May 7, 2025

Sold (Public Record)

Public Record #1557684793

$3,800,000

+7.7% / yr

May 7, 2025

Sold

Greater Erie Board of REALTORS #181424

$4,100,000—
Feb 27, 2025

Pending

Greater Erie Board of REALTORS #181424

—
DateEvent & SourcePrice
05/07/2025

Sold (Public Record)

Public Record #1557684793

$3,800,000

+7.7% / yr

05/07/2025

Sold

Greater Erie Board of REALTORS #181424

$4,100,000
02/27/2025

Pending

Greater Erie Board of REALTORS #181424

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public records

4175 West Ridge Road

Total Finished SqFt

8,064 SqFt

Above Grade Finished SqFt

8,064 SqFt

Unfinished Basement SqFt

2,688 SqFt

Stories

3

Lot Size

108,116 SqFt

Style

Multi-Family Res (5+ Units)

Schools near 4175 West Ridge Road

This home is within Millcreek Township School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
Asbury Elementary School
PublicPK to 5

Westlake Middle School
Public6 to 8

McDowell High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 4175 West Ridge Road, Erie, PA 16506
$4,100,000
78
72
36,696
108,028
$272,000
10
4
5,594
10,454
$122,500
3
960
10,890
$325,000
–
–
46,174
46,173
$102,000
3
1,008
6,969
–
3
2
2,112
12,001

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Agresti Real Estate

IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.